chrisdunntv
Short

Short-Term Downside Target If Support Breaks

BITSTAMP:BTCUSD   Bitcoin / Dollar
1201 8 11
Bitcoin has been fading off from the $1,000 level
(as I mentioned many times). If price snaps $800
with strength, we could see $720 - $675 pretty quickly.
Its snapped BTC-e a few times already....so whats those numbers in BTC-e?
Reply
chrisdunntv DeanGoncalves
there's a totally separate chart for each exchange. Just look at the price areas.
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I cannot believe it is the FED bitcoin auction news... could it be a self-fulfilled prophecy of breakdown?
Reply
CameronPoe nicolaennio
It shouldn't be the Fed news, unless a huge portion of the market misunderstands what's happening. The feds will just auction them off, they would never use an exchange to sell off anything. They always auction forfeited goods. If anything, it's good for the market because they'll probably sell them for a fraction of what they're worth in order to get rid of them quickly.
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chrisdunntv CameronPoe
I agree, they probably wouldn't dump them all on an exchange. But if they did it would make for a great buying opportunity!
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What sort of trade should we be looking for in a situation like this?
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where do you place your stop loss?
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guys, feel free to ask me questions on Twitter @chrisdunntv
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